35 Pennsylvania Ave · Montreal, WI 54550

$109,500

4 bd · 1.5 ba · 1,248 sqft · Other · 10 Days on market

Built 1910 7,840 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +6.6/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Very nice four bedroom, 1 1/2 bath home in a quiet location near snowmobile/ATV trail and only blocks from Gile Flowage. Main floor has good size living room, dining room, kitchen, bedroom and 1/2 bath. Upstairs has three bedrooms and a full bath. Home has a newer metal roof and vinyl siding. There is a one car detached garage.

Key facts

• Near atv trail
• Vinyl siding
• Quiet location

Tags

• QUIET LOCATION
• NEAR SNOWMOBILE TRAIL
• NEAR ATV TRAIL
• NEAR GILE FLOWAGE
• NEWER METAL ROOF
• VINYL SIDING

Property features AI

Exterior

• Parking: Detached garage (12 x 22); One-car garage; 2 parking spaces
• Utilities: Public water; Public sanitary sewer; Electricity connected (100 amp service); Natural gas connected; Electric water heater
• Home design: Residential property; 1 to 4 units possible; 2-story structure; Built in 1910; Below-grade area (finished area not reported)
• Construction: Vinyl siding exterior; Stone foundation; Year built 1910
• Exterior features: Vinyl siding; Deck; Porch; City limits location; Road frontage

Interior

• Kitchen: Kitchen on first floor (10 x 11); Range/oven; Refrigerator
• Bedrooms: First-floor bedroom (10 x 13); Second-floor bedroom (14 x 15); Second-floor bedroom (approx. 14 wide); Second-floor bedroom (9 x 11)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (second floor, approx. 8 x 9); One first-floor lavatory (approx. 3 x 5) — total of two baths/lavatories
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s)
• Interior features: Hardwood floors; Window treatments; Living room on first floor; Deck; Porch
• Laundry & utility: Basement present (stone foundation)

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 64/100 on livability (#532 in WI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D+, amenities F.
• Hurley School District (rural): math 41% / reading 46% proficiency, ranked #134 of 342 in WI (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 62 units permitted in Iron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($757 loan paydown + $4k appreciation (3.2% local appreciation)).
• Iron County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,500

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.25% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.20×
• Total profit: $36,924
• Equity at exit: $50,778

10-year hold

• IRR: 21.8%
• Equity multiple: 4.21×
• Total profit: $98,387
• Equity at exit: $79,475

Cash invested: $30,660 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 54550

• Home prices YoY: 2.9%
• Active inventory: 8
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$574
• Tax from tax record: −$66 /mo · $792/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $350

Break-even live

Break-even rent $868

Max offer price $109,500

Occupancy floor 68%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,375
• Closing costs: $3,285
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $109,500 Active 10 DOM
2. 2026-06-17
   days on market $109,500 Active 9 DOM
3. 2026-06-16
   days on market $109,500 Active 8 DOM
4. 2026-06-15
   days on market $109,500 Active 7 DOM
5. 2026-06-15
   days on market $109,500 Active 6 DOM
6. 2026-06-13
   days on market $109,500 Active 5 DOM
7. 2026-06-12
   days on market $109,500 Active 4 DOM
8. 2026-06-08
   remarks 329-char remark

   Show marketing remark (329 chars)

   Very nice four bedroom, 1 1/2 bath home in a quiet location near snowmobile/ATV trail and only blocks from Gile Flowage. Main floor has good size living room, dining room, kitchen, bedroom and 1/2 bath. Upstairs has three bedrooms and a full bath. Home has a newer metal roof and vinyl siding. There is a one car detached garage.

9. 2026-06-08
   listed $109,500 Active 1 DOM

   Show marketing remark (329 chars)

   Very nice four bedroom, 1 1/2 bath home in a quiet location near snowmobile/ATV trail and only blocks from Gile Flowage. Main floor has good size living room, dining room, kitchen, bedroom and 1/2 bath. Upstairs has three bedrooms and a full bath. Home has a newer metal roof and vinyl siding. There is a one car detached garage.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WI · Partial reset (capped growth)

• Current annual tax: $792 · $66/mo
• Projected year-2 tax: $1,409 · $117/mo
• Expected delta: +$617/yr (+$51/mo · 77.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,738
• − Mortgage interest: −$6,134
• − Property taxes: −$792
• − Insurance: −$548
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$3,185
• Taxable income: $2,561
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $3,588/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hurley School District
• NCES district ID: 5506750
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 46% ▲ 3.00%
• Median HH income: $37,702
• Composite: 36.21/100
• National rank: #4729
• State rank: #134 of 342 in WI

Livability — Montreal

• Score: 64/100
• State rank: #532
• US rank: #13674

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment F Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montreal, WI
• City population: 311
• Population (ZIP): 655

Population outlook (Iron County) Hauer SSP2

• Today (2025): 5,630 people
• By 2030: 5,446 · -3.3%
• By 2040: 4,887 · -13.2%
• By 2050: 4,345 · -22.8%
• By 2075: 3,844 · -31.7%
• By 2100: 3,561 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 7%
• Common ancestry: Romanian 12% Portuguese 4% Lithuanian 2%
• Foreign-born: 0%

Political lean MEDSL · Iron

• 2024 margin: Strong R (+26.2) · D 36.5% · R 62.7%
• 2008→2024 swing: -39.3pp toward R · 2008: 13.1pp · 2024: -26.2pp
• All cycles: 2024: R+26.2 2020: R+22.6 2016: R+23.5 2012: R+0.1 2008: D+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.25%
• Current HPI: 113.6184
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $109,500 UPAR
• 2026-06-08 Listed $109,500 MiRealSource-MiMLS
• 2026-06-08 Listed $109,500 GNMLS

Property tax history

+4.1%/yr

Latest (2025): $792 · +15.2% YoY. Source: county tax records.